Intech Investment Management LLC Takes $124,000 Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Intech Investment Management LLC purchased a new stake in Clean Energy Fuels Corp. (NASDAQ:CLNE) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 39,953 shares of the utilities provider’s stock, valued at approximately $124,000.

Other large investors have also made changes to their positions in the company. Tidal Investments LLC purchased a new position in shares of Clean Energy Fuels in the 1st quarter valued at about $33,000. Vanguard Group Inc. increased its holdings in Clean Energy Fuels by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock valued at $27,071,000 after acquiring an additional 100,271 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Clean Energy Fuels by 33.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,763 shares of the utilities provider’s stock valued at $284,000 after acquiring an additional 26,356 shares in the last quarter. SIR Capital Management L.P. increased its holdings in Clean Energy Fuels by 9.8% during the 2nd quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock valued at $7,381,000 after acquiring an additional 246,600 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Clean Energy Fuels during the 3rd quarter valued at about $236,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CLNE. Scotiabank raised their target price on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a report on Tuesday, September 3rd. StockNews.com downgraded shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.38.

Clean Energy Fuels Price Performance

Clean Energy Fuels stock opened at $2.77 on Friday. Clean Energy Fuels Corp. has a 12-month low of $2.17 and a 12-month high of $4.13. The stock has a market capitalization of $618.98 million, a P/E ratio of -8.94 and a beta of 2.14. The firm’s 50-day moving average is $2.91 and its two-hundred day moving average is $2.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The company had revenue of $104.90 million for the quarter, compared to analysts’ expectations of $100.64 million. During the same period last year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts predict that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Clean Energy Fuels Profile

Clean Energy Fuels Corp. provides natural gas as alternative fuels for vehicle fleets and related fueling solutions in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.